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APARTMENT PRICES IN SEOUL POST STEEP RISE.
SEOUL, April 1 Asia Pulse - The total sum of apartment prices in Seoul increased close to 50 trillion won (US$37.75 billion) for a year, a real estate research company said Monday.
The results came from a survey conducted by NeoNet Inc. on apartment prices that covered 2,447 apartment complexes in the reported area.
As of the end of 2001, the entire value of apartments in Seoul was valued at 214.93 trillion won, up 48 trillion won from a year earlier, the real-estate company said.
As of the end of last month, that value jumped to 241.5 trillion won, up 26.61 trillion won from three months ago, and up 74.94 trillion won since the end of 2000.
The steep upswing is chiefly due to a rise in apartment price, rather than the addition of the number of apartments to the survey. Only 91,799 apartments worth 21.28 trillion won were added to the study as samples, not having a great influence on the hike.
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Source: HighBeam Research, APARTMENT PRICES IN SEOUL POST STEEP RISE.